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Do you plan to set up shop? Don´t miss reading this

There is a lot to think about before you open up a store. Here are ten crucial step to making your store a success.

1. Is your store needed?
Do you know that what you intend to sell is really something that other people want to pay for?
Many people start small shops and sell amazing things, but the customer base is too small and the margins are too small. Have you researched the area? Are you the only one selling your kind of products/services there?

2. Location
Choose a location with care. Many who start up a shop do so just because there's a vacant place without thinking about whether it's right for their particular type of store or not. The questions you must ask yourself when you open a store is:
• Will the right customers pass by the store?
• Will enough spontaneous visitors of the right category pass by the store?

3. Does your store fit into the mix of other nearby stores?
Here, it's very important to be careful. Are there any major stores that your customers are drawn to and that automatically draw customers to your store? Are there major competitors in the area that will make it difficult for you to establish a personal profile?

4. The marketing
One of the most common mistakes new stores make is thinking that if they just open the store, the customers will find it themselves. Get ready to work with marketing the store from the beginning.

5. Do you like people?
Customers are the amazing people who will be paying your salary. Do you have the ability to differentiate between your professional role and your private person when a sour and grumpy person hits you with unfair attacks and gets your private personality to lose temper? Can that person be a professional? The great thing with a professional attitude is that you never lose.

6. Do you keep a watchful eye on the financial situation?
To be able to sleep well at night, it's important for all companies and entrepreneurs to keep a watchful eye on the company's finances. You must be willing to really learn everything there is to know in order to understand how the incoming and outgoing flow of money works.

7. Are you ready?
Do you really want to start a shop so badly that you will be willing to forego other things in your life for quite some time? Starting and running a business is really amazing for someone who is prepared to work very hard in the beginning to get it off the ground. But, to get the company to work, you'll probably always have work more than your employed friends. Are you prepared to do that?

8. Are you healthy?
This question is both difficult and a bit elitist, but if you want to start a shop by yourself, then it's important that you have good health, both physically and mentally. It simply needs to be done at the right time in your life because it will require your full attention for quite some time.

9. Are you ready to enjoy all the benefits?
Running your own business is wonderful. You will not only be your own boss and control your own life, but if you work hard you will also earn money - more money than most people.

10. Remember to always look for shortcuts
There's always lots and lots of ways to increase sales in your store. Be flexible and innovative and learn how to find the short cuts.

About the author

Stefan Ekberg has worked in marketing for small business for 20 years and has written around 30 books on how small business owners can market themselves with limited resources. . In 2012 Stefan was nominated as Entrepreneur of the Year in Stockholm.

230 000 prescribes to his free newsletter "The 5 minute marketer"
Every week some 230,000 prescribers gets his free newsletter about 5 minute marketing.

"The 5 minute marketer" - the book
You run a small business and you want to get ahead of the competition, but how can you give resources to marketing when you're short on time and the budget is tight? The solution is here! The 5-Minute Marketer is packed with 395 tried-and-tested ways to market your business in 5 minutes or less.